Arverne Group Has Entered Negotiations With Hydro Energy Invest AS With a View to Increase Arverne Group’s Participation in Its Subsidiary Lithium de France

PAU, France--(BUSINESS WIRE)--Regulatory News:

Arverne Group (Paris:ARVEN) (ISIN code: FR001400JWR8, mnemonic code ARVEN), a French industrial company specialized in the production of renewable underground resources, announces that it has entered negotiations with Hydro Energy Invest AS (a fully owned subsidiary within the Norsk Hydro group) to increase its stake in its subsidiary Lithium de France.

Nature of the transaction

The contemplated transaction would consist in Hydro Energy Invest contributing its shares in Lithium de France against Arverne Group shares. This transaction would enable Arverne Group to increase its stake in Lithium de France, whilst reinforcing its shareholding structure with a major energy player. If this project is completed the major shareholders of Lithium de France would be Arverne Group and Equinor Ventures.

Lithium de France: an innovative and disruptive geothermal heat and lithium project in Alsace

Lithium de France, created in 2020 by Arverne Group, is a pioneer in accelerating the energy transition by supplying heat to businesses, farmers and local authorities and producing lithium for electric mobility. By 2031, its groundbreaking project aims to produce 2.2 TWh of geothermal heat and an annual production capacity of 27 kt of lithium (LC), i.e. 33% of estimated French demand in 2035¹. The lithium will be extracted using DLE (Direct Lithium Extraction) technology from the rich geothermal brines in Alsace. The results of the pre-feasibility study (PFS)² confirmed the competitiveness of geothermal lithium production costs, placing the project in the top quartile worldwide, while respecting the environment and contributing to regional development.

A reinforced ambition: to become the French leader in geothermal energy in all its forms, including geothermal lithium

The proposed transaction will enable Arverne Group to reaffirm its position in the structurally buoyant market for critical metals in the energy transition, particularly lithium. Global demand for lithium, which is essential for electric batteries and energy storage, is set to increase fivefold by 2040, while supply is expected to be insufficient³.

Provisional schedule

Completion of this transaction remains subject to the signature of definitive agreements and to usual conditions in this area. Arverne Group will keep investors informed of significant progress on this project, in accordance with its regulatory obligations.

Next event: June 18, 2025, Combined General Meeting

About Arverne Group

Arverne Group specializes in harnessing underground resources to transform them into environmentally friendly, local and renewable energy, contributing to the prosperity of local communities. As an integrated industrial player, Arverne Group spans the entire underground value chain, from exploration to drilling and production to sales to end-users. Arverne Group aims to become the French leader in geothermal energy and its by-products, including low-carbon geothermal lithium. Founded in Pau in 2018, Arverne Group has structured its business activities around several subsidiaries, notably Lithium de France (geothermal heat and extraction and sale of geothermal lithium), 2gré (sale of geothermal heat), Arverne Drilling Services (drilling operations). A mission-driven company, Arverne Group is listed on the Tech Leaders segment of Euronext Paris (ISIN FR001400JWR8, symbol ARVEN).

www.arverne.earth

About Lithium de France

Lithium de France, a subsidiary of the Arverne Group, mission-driven company listed on the Tech Leaders segment of Euronext Paris, is a French pioneer in low-carbon geothermal heat and lithium. Founded in 2020, Lithium de France's mission is to accelerate the energy transition by supplying heat to businesses, farmers and local authorities alike, and producing lithium for electric mobility. Lithium de France is an innovative leader headquartered in Haguenau, northern Alsace.

www.lithiumdefrance.com

About Hydro

Hydro is a leading aluminium and renewable energy company developing businesses and partnerships for a more sustainable future. It employs 32,000 people at more than 140 sites in 42 countries.

www.hydro.com

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^1 Source: CA36-OFREMI.pdf

^2 Arverne-Group-Interim-2024-results.pdf - the Definitive Feasibility Study (DFS) will refine these results

^3 Source Benchmark Mineral Intelligence, Q1 2025 - compared to 2024